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Saturday, November 26, 2022

HCMC’s budget revenue soars in Jan-Sept

The Saigon Times

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HCMC – HCMC’s budget revenue totaled some VND350 trillion between January and September, meeting 90.5% of the full-year target and rising 27.7% year-on-year, according to data from the HCMC Statistics Office.

Of the total, domestic revenue accounted for over VND222 trillion, or 63.5%, up 26.3% year-on-year, the local media reported.

In specifics, collections from State-run enterprises made up 6.9% of the total revenue and rose by 20.2% year-on-year, while non-State firms contributed 17% to the total and improved 20.6% year-on-year. The budget revenue from foreign-invested enterprises represented 14.7% of the total and advanced 12.6% against the year-ago period.

Imports and exports brought revenue of VND104.7 trillion, a year-on-year increase of 19.7%, while the budget revenue from crude oil amounted to VND23.1 trillion, skyrocketing 116% year-on-year.

A 152% year-on-year surge in the budget revenue from property-related activities also contributed to the city’s budget revenue gain.

The positive results of the city’s budget collection matched its economic recovery as the city’s gross regional domestic product during the nine-month period expanded by 9.71% year-on-year.

On the other hand, the city’s budget spending totaled an estimated VND84.5 trillion during the January-September period, meeting over 50% of the target and growing 33.2% year-on-year.

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